The government-backed National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday, said people with knowledge of the matter. NARCL gave a binding offer of Rs 670 crore to acquire Rs 3763 crore debt from lenders, … Read more
National Asset Reconstruction Company of India (NARCL) has proposed to acquire the debt of Jaiprakash Associates from banks for ₹10,000 crore, making it the largest offer made so far by the government-backed asset reconstruction company (ARC) that started operations just over two years ago. If a majority of lenders sell their debt, ARC will acquire … Read more
Yes Bank is set to recover about half of its dues from Katerra India by selling loans of the company undergoing corporate insolvency. Prudent ARC on Monday matched a counter-offer by Asset Reconstruction of India (Arcil) for Katerra India at a Swiss challenge auction held by Yes Bank, said people with knowledge of the matter. … Read more
Mumbai: Cooperative banks may be joining the banking mainstream, at least when it comes to the sale of bad loans. Saraswat Cooperative Bank has come out with the sale of non-performing assets worth as much as ₹410 crore and, and has sought bids on a 100% upfront cash basis. The bank has appointed BoB Capital … Read more
Shriram Capital, the holding company for the financial services in the Shriram Group will invest Rs 300 crore to start a new business aggregating retail bad loans as it seek to leverage its collection efficiencies, company executives said. The company will also expand it asset management business by building a wealth management as it seeks … Read more
Peterson, Murray and their fellow Intellectual Dark Web culture wars commentators including Daily Wire’s Ben Shapiro, who was a surprise guest, are certainly divisive figures. But to dismiss them as galvanisers of some sort of dangerous new right is far too simplistic and clearly not what the audience (one diverse across age, race and gender) … Read more
Good morning! It’s Wednesday, September 6, 2023, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. We Hope Steve Never Has to Test This Motorcycle Airbag Vest 1st Gear: Another Massive Airbag Recall Is … Read more